Memphis, TN

TIA Data

2019 Financial State of Memphis (Released 1/26/2021)

Use Create Your Own City Chart to see additional financial, demographic and economic data for this and other cities

Memphis' Taxpayer Burden™ is -$4,300, and it received a "C" from TIA.
Memphis is a Sinkhole City without enough assets to cover its debt.
Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.
TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.
Memphis only has $1.7 billion of assets available to pay bills totaling $2.5 billion.
Because Memphis doesn't have enough money to pay its bills, it has a $810 million financial hole. To erase this shortfall, each Memphis taxpayer would have to send $4,300 to the city.
Memphis's reported net position is understated by $224.2 million, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.
The city's financial report was released 169 days after its fiscal year end, which is considered timely according to the 180 day standard.

Prior Years' TIA Data

2018 Financial State of Memphis

2017 Financial State of Memphis

2016 Financial State of Memphis

2015 Financial State of Memphis

Other Resources

Memphis Comprehensive Annual Financial Reports

Publishing Entity: City of Memphis

Majority of U.S. cities ill-prepared for COVID-19 pandemic

JANUARY 26, 2021

The 2021 Financial State of the Cities (FSOC) surveys the fiscal health of the 75 largest municipalities in the United States. This data is released today by Truth in Accounting (TIA), a think tank that analyzes government financial reporting.